Buy Or Sell Opportunity • Jun 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to €1.58. The fair value is estimated to be €1.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 29% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to €1.55. The fair value is estimated to be €1.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 29% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (38% average weekly change). Earnings have declined by 29% per year over the past 5 years. High level of non-cash earnings (152% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (7.0% net profit margin). Market cap is less than US$100m (€20.3m market cap, or US$23.9m). Aankondiging • Apr 17
DF Deutsche Forfait AG to Report Fiscal Year 2025 Results on Apr 30, 2026 DF Deutsche Forfait AG announced that they will report fiscal year 2025 results on Apr 30, 2026 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €1.79, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 10x in the Diversified Financial industry in Germany. Total loss to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €2.02, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 10x in the Diversified Financial industry in Germany. Total loss to shareholders of 7.4% over the past three years. Buy Or Sell Opportunity • Mar 03
Now 23% undervalued Over the last 90 days, the stock has risen 103% to €2.36. The fair value is estimated to be €3.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 65%. Buy Or Sell Opportunity • Feb 12
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 252% to €4.30. The fair value is estimated to be €3.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 65%. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to €2.86, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 11x in the Diversified Financial industry in Germany. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €2.18, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Negligible returns to shareholders over past three years. Buy Or Sell Opportunity • Jan 27
Now 29% undervalued Over the last 90 days, the stock has risen 56% to €2.18. The fair value is estimated to be €3.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 65%. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €1.17, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total loss to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €1.16, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 13x in the Diversified Financial industry in Germany. Total loss to shareholders of 38% over the past three years. New Risk • Sep 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.0% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. High level of non-cash earnings (152% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (7.0% net profit margin). Market cap is less than US$100m (€17.6m market cap, or US$20.7m). Aankondiging • Sep 28
DF Deutsche Forfait AG to Report Q2, 2025 Results on Sep 30, 2025 DF Deutsche Forfait AG announced that they will report Q2, 2025 results at 12:00 PM, Central European Standard Time on Sep 30, 2025 New Risk • Sep 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. High level of non-cash earnings (1,172% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (€19.3m market cap, or US$22.8m). Upcoming Dividend • Aug 25
Upcoming dividend of €0.06 per share Eligible shareholders must have bought the stock before 01 September 2025. Payment date: 03 September 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.1%). Aankondiging • Jul 22
DF Deutsche Forfait AG, Annual General Meeting, Aug 29, 2025 DF Deutsche Forfait AG, Annual General Meeting, Aug 29, 2025, at 10:00 W. Europe Standard Time. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.79, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 11x in the Diversified Financial industry in Germany. Total loss to shareholders of 2.0% over the past three years. New Risk • May 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. High level of non-cash earnings (1,172% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€17.6m market cap, or US$20.0m). Reported Earnings • May 05
Full year 2024 earnings released: EPS: €0.16 (vs €0.14 in FY 2023) Full year 2024 results: EPS: €0.16 (up from €0.14 in FY 2023). Revenue: €10.5m (down 65% from FY 2023). Net income: €1.88m (up 13% from FY 2023). Profit margin: 18% (up from 5.6% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • May 02
DF Deutsche Forfait AG to Report Fiscal Year 2024 Results on Apr 30, 2025 DF Deutsche Forfait AG announced that they will report fiscal year 2024 results at 9:00 AM, Central European Standard Time on Apr 30, 2025 Aankondiging • May 01
DF Deutsche Forfait AG announces Annual dividend, payable on September 03, 2025 DF Deutsche Forfait AG announced Annual dividend of EUR 0.0600 per share payable on September 03, 2025, ex-date on September 01, 2025 and record date on September 02, 2025. New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€18.2m market cap, or US$20.6m). Reported Earnings • Sep 29
First half 2024 earnings released: EPS: €0.12 (vs €0.16 in 1H 2023) First half 2024 results: EPS: €0.12 (down from €0.16 in 1H 2023). Revenue: €4.96m (down 80% from 1H 2023). Net income: €1.47m (down 24% from 1H 2023). Profit margin: 30% (up from 7.7% in 1H 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 23
DF Deutsche Forfait AG to Report First Half, 2024 Results on Sep 24, 2024 DF Deutsche Forfait AG announced that they will report first half, 2024 results on Sep 24, 2024 Aankondiging • May 25
DF Deutsche Forfait AG, Annual General Meeting, Jul 02, 2024 DF Deutsche Forfait AG, Annual General Meeting, Jul 02, 2024, at 11:00 W. Europe Standard Time. Reported Earnings • May 02
Full year 2023 earnings released: EPS: €0.14 (vs €0.45 in FY 2022) Full year 2023 results: EPS: €0.14 (down from €0.45 in FY 2022). Revenue: €29.5m (up 170% from FY 2022). Net income: €1.66m (down 69% from FY 2022). Profit margin: 5.6% (down from 49% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 30
DF Deutsche Forfait AG to Report Fiscal Year 2023 Results on Apr 30, 2024 DF Deutsche Forfait AG announced that they will report fiscal year 2023 results on Apr 30, 2024 New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (17% net profit margin). Market cap is less than US$100m (€18.0m market cap, or US$19.1m). Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €1.64, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total returns to shareholders of 18% over the past three years. Reported Earnings • Oct 05
First half 2023 earnings released: EPS: €0.17 (vs €0.17 in 1H 2022) First half 2023 results: EPS: €0.17 (in line with 1H 2022). Revenue: €25.4m (up 386% from 1H 2022). Net income: €1.95m (down 1.9% from 1H 2022). Profit margin: 7.7% (down from 38% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. New Risk • Oct 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). Market cap is less than US$100m (€25.4m market cap, or US$26.9m). Aankondiging • Sep 29
DF Deutsche Forfait AG to Report Q2, 2023 Results on Sep 29, 2023 DF Deutsche Forfait AG announced that they will report Q2, 2023 results on Sep 29, 2023 New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (€25.4m market cap, or US$28.1m). Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.74, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 26x in the Diversified Financial industry in Germany. Total returns to shareholders of 149% over the past three years. Upcoming Dividend • Jun 23
Upcoming dividend of €0.04 per share at 1.8% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 04 July 2023. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.8%). Aankondiging • May 20
DF Deutsche Forfait AG, Annual General Meeting, Jun 29, 2023 DF Deutsche Forfait AG, Annual General Meeting, Jun 29, 2023, at 11:00 Central European Standard Time. Location: KOMED, Im Mediapark 6 in 50670 Cologne Germany Reported Earnings • May 01
Full year 2022 earnings released: EPS: €0.45 (vs €0.57 in FY 2021) Full year 2022 results: EPS: €0.45 (down from €0.57 in FY 2021). Revenue: €11.0m (up 11% from FY 2021). Net income: €5.40m (down 20% from FY 2021). Profit margin: 49% (down from 68% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: €0.17 (vs €0.13 in 1H 2021) First half 2022 results: EPS: €0.17 (up from €0.13 in 1H 2021). Revenue: €5.28m (up 24% from 1H 2021). Net income: €1.99m (up 27% from 1H 2021). Profit margin: 38% (in line with 1H 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 02
DF Deutsche Forfait AG, Annual General Meeting, Aug 18, 2022 DF Deutsche Forfait AG, Annual General Meeting, Aug 18, 2022. Location: Mediapark Cologne Germany Reported Earnings • May 03
Full year 2021 earnings released: EPS: €0.57 (vs €0.57 in FY 2020) Full year 2021 results: EPS: €0.57 (down from €0.57 in FY 2020). Revenue: €9.95m (up 12% from FY 2020). Net income: €6.76m (flat on FY 2020). Profit margin: 68% (down from 77% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 16% share price gain to €1.64, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 11x in the Diversified Financial industry in Germany. Total returns to shareholders of 280% over the past three years. Reported Earnings • Oct 01
First half 2021 earnings released: EPS €0.13 (vs €0.10 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €4.26m (up 1.8% from 1H 2020). Net income: €1.57m (up 33% from 1H 2020). Profit margin: 37% (up from 28% in 1H 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 19% share price gain to €1.69, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 22x in the Diversified Financial industry in Germany. Total returns to shareholders of 849% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €1.45, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 22x in the Diversified Financial industry in Germany. Total returns to shareholders of 753% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €1.67, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 20x in the Diversified Financial industry in Germany. Total returns to shareholders of 288% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 19% share price gain to €1.65, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 36x in the Diversified Financial industry in Germany. Total returns to shareholders of 339% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 22% share price gain to €1.58, the stock is trading at a trailing P/E ratio of 4.1x, up from the previous P/E ratio of 3.4x. This compares to an average P/E of 35x in the Diversified Financial industry in Germany. Total returns to shareholders over the past three years are 182%. Is New 90 Day High Low • Mar 05
New 90-day high: €1.40 The company is up 13% from its price of €1.24 on 04 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 13
New 90-day high: €1.35 The company is up 30% from its price of €1.04 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 27% over the same period. Valuation Update With 7 Day Price Move • Nov 04
Market bids up stock over the past week After last week's 16% share price gain to €1.26, the stock is trading at a trailing P/E ratio of 3.3x, up from the previous P/E ratio of 2.9x. This compares to an average P/E of 33x in the Diversified Financial industry in Germany. Total returns to shareholders over the past three years are 71%. Is New 90 Day High Low • Sep 24
New 90-day high: €1.32 The company is up 25% from its price of €1.06 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 18% over the same period. Aankondiging • Sep 23
DF Deutsche Forfait AG to Report Q2, 2020 Results on Sep 23, 2020 DF Deutsche Forfait AG announced that they will report Q2, 2020 results on Sep 23, 2020 